Principles of Cost Accounting
17th Edition
ISBN: 9781305087408
Author: Edward J. Vanderbeck, Maria R. Mitchell
Publisher: Cengage Learning
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Chapter 9, Problem 1P
To determine
Prepare a
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Describe and illustrate a job order cost accounting systems for service businesses.
As related to a job order costing system, answer the following short questions:
a. What is a job order costing system? Identify three kinds of companies that would use such as system.
b. What is a job order?
c. What is the purpose of a job order cost card? Identify the kinds of information recorded on it.
Describe and illustrate a job order cost accounting system for a manufacturing business.
Chapter 9 Solutions
Principles of Cost Accounting
Ch. 9 - Give at least five examples of service...Ch. 9 - Prob. 2QCh. 9 - What factors help to explain the growth of service...Ch. 9 - What type of costing system do most service...Ch. 9 - What factors would you consider in deciding...Ch. 9 - Distinguish between a direct cost and an indirect...Ch. 9 - What are the elements of a cost performance...Ch. 9 - Prob. 8QCh. 9 - Why is it important for professional labor hours...Ch. 9 - Prob. 10Q
Ch. 9 - Explain how a budgeted income statement for a...Ch. 9 - What are the two main things that an...Ch. 9 - Prob. 13QCh. 9 - Prob. 14QCh. 9 - Explain the concept of a cost/benefit decision and...Ch. 9 - Prob. 16QCh. 9 - Prob. 17QCh. 9 - Prob. 18QCh. 9 - Prob. 19QCh. 9 - Prob. 20QCh. 9 - Prob. 21QCh. 9 - Prob. 22QCh. 9 - Prob. 23QCh. 9 - Prob. 24QCh. 9 - Compute the budgeted overhead rate for the coming...Ch. 9 - Compute the profit or loss on the job in (a)...Ch. 9 - Prepare a revenue budget for the year ending...Ch. 9 - Prepare a budgeted income statement for the month...Ch. 9 - Prepare a budgeted income statement for the month...Ch. 9 - Compute the budgeted overhead rates for each of...Ch. 9 - Prob. 7ECh. 9 - Prob. 8ECh. 9 - Compute the budgeted overhead rates for each of...Ch. 9 - From the following list of performance measures,...Ch. 9 - Luxe Inc., a chain of gasoline service stations,...Ch. 9 - Basic Inc., a chain of gasoline service stations,...Ch. 9 - Categorize each of the following quality costs as...Ch. 9 - Prob. 1PCh. 9 - 1. Prepare a cost performance report. 2. Compute...Ch. 9 - 1. Prepare a revenue budget. 2. Prepare a...Ch. 9 - 1. Prepare an Overhead budget. 2. Prepare an Other...Ch. 9 - Using the information for Crable and Tesch, the...Ch. 9 - Compute the budgeted overhead rate for each of the...Ch. 9 - Compute the budgeted overhead rate for each of the...Ch. 9 - Prob. 8PCh. 9 - Prob. 9PCh. 9 - Prepare a balanced scorecard, without numbers, for...Ch. 9 - Prepare a balanced scorecard for Delhi Dairies,...Ch. 9 - Prob. 12PCh. 9 - Prob. 13PCh. 9 - Prob. 1MC
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- Explain how a sales order, a production order, a materials requisition form, and a labor time ticketare involved in producing and costing products.arrow_forwardCreate a Job Order Cost Sheet for cookie businessarrow_forwardDescribe a situation in which you would use job order costing information for a product. What specific costs would be on the job order costing sheet? What is a service that might utilize job order costing?arrow_forward
- In which basic document is used to accumulate the cost of each order in job order costing? Job cost sheet Stock cards Sales Invoice Receiving reportarrow_forwardIdentifying job order costing journal entries Analyze the following T-accounts, and describe each lettered transaction. Note that some transactions may be compound entries.arrow_forwardExplain the job order costing income statement and provide a hypothetical example ofjob order costing income statement in a manufacturing enterprise. Provide in-textcitations and explain your example in detail.arrow_forward
- In ABC Company, in which basic document is used to accumulate the cost of each order in job order costing? a.Receiving report b.Job cost sheet c.Sales Invoice d.Stock cardsarrow_forwardDiscuss how the predetermined factory overhead rate can be used in job order cost accounting to assist management in pricing jobs.arrow_forwardIn job order costing, on which of the following would labor costs be initially recorded? a. payroll register b. time tickets c. job cost sheets d. clock cardsarrow_forward
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